Does anyone get the feeling JP Morgan is inaccurate here.
The natural scenario appears to be one where most flock to BTC and crypto in the near future. If inflation rises. Prices trend upwards. And concerns about lockdowns coupled with stimulus spending mount. Employees and the private sector will naturally embrace previous metals and BTC in an effort to insulate themselves from negative effects associated with fiat devaluation, inflation and stimulus spending.
I remember a time around 10 years ago when many europeans thought the EU would fail and euro would devalue due to concerns about greece. Many in europe bought big screen TVs and other items, to retain the value of their money, expecting the euro to crash.
I would be interested to know why JP Morgan says history would not repeat itself here.
I also follow the information around BTC and see how many companies want BTC and other cryptocurrencies, but the price is already biting. Based on this statement, JP Morgan looks somehow not convincing. The fact is that sooner or later the stock market will fall again and will no longer be able to rise, and then many companies will lose all their earned money. What should they do now? It's a good question and it is likely that one of the ways out of this situation will be BTC and other crypto assets. Perhaps some of the companies are already buying, but hiding it. No matter how it was, the situation on the markets is increasing and probably we will soon see interesting events and find out what exactly it was necessary to invest in.